The resistance holds GBP JPY 16/8/2013

Economies.com
2013-08-16 07:51AM UTC

The pair touched the suggested target level around 153.20 to find a resistance level against the price rise, which makes us expect some fluctuation in the near period between the previous resistance level and 149.90 until gaining the required momentum to surpass 153.20 to visit 154.50

 

Stochastic settles below 80 level attempting to gain the required positive momentum to breach 153.20 in order to reach the previously suggested target level.

 

Expected trading range is between: 149.90 and 153.20

 

Expected trend for today: sideways

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